Maya Gold & Silver Lower After Proposing $6.3 million Private Placement
Shares of Maya Gold & Silver Inc. (MYA.V), which have been trading a few pennies higher today are now down 3 cents at 31 cents each after announcing plans to sell between 35 to 70 equity units consisting of 300,000 shares of common stock worth 30 cents each along with two silver ingots of 10 kilograms each. Individual units are priced at $945,000 each.
Offering participants also have the option of receiving purchase warrants for 150,000 additional shares priced at 70 cents in lieu of the silver ingots. The company plans to use proceeds for its acquisition of the Zgounder silver Mine and other projects in Morocco.
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